Border Media Partners

Challenge

• 2008 US recession and changing market reduced office need by 50%.
• Existing lease obligation of $1.18 million dollars.
• Office space was not being utilized to full capacity.
• Competitive sublease market, with an average time to sublease office space of 215 days.

Results

• Developed subleasing marketing strategies and perform a financial analysis.
• Aggressively marketed sublease, including incentives for quick sublease occupancy.
• Subleased office space in 90 days, cutting lease-up time by over 50%.
• Reduced BMP’s lease obligation by 39%, with a total savings of $460,000.